BitRiver Announces Pre-Sale For Low-Carbon Crypto Mining Token

In temporary

  • BitRiver has introduced the pre-sale of a low-carbon token.
  • The BTR token is ready for public launch on April 19.

BitRiver, a supplier of location companies for cryptocurrency mining, immediately introduced the pre-sale of the BitRiver token (BTR). 

BTR is an ERC-20 utility token that represents one watt-hour of energy in BitRiver’s colocation facility, positioned in Bratsk, Siberia. The token is at present accessible for pre-sale to buyers, with a minimal order amount of 100,000 BTR tokens per order. The token can also be set for public launch on April 19, and will probably be held on Bithumb Global. The value of 1 BTR will probably be $0.3504 on the time of launch. 

“From day one, now we have at all times sought to make use of solely renewable and surplus power for all our operations,” mentioned Igor Runets, founder and CEO of BitRiver, including, “It is encouraging to see the growing curiosity worldwide in low-carbon cryptocurrency mining.” 

What does the BTR token do? 

The BTR token allows holders to begin mining operations in certainly one of BitRiver’s information facilities. 

In alternate, BitRiver will guarantee it has ample electrical energy accessible to those that maintain BTR tokens for a interval of three consecutive months—at the least equal to the nominal worth of the holder’s BTR tokens. So, if a holder has 100,000 BTR, which equate to 1 watt every, BitRiver will present as much as 100 KWh (kilowatt hours) in certainly one of its mining centres for the holder’s new tools. 

In addition, the BTR token permits holders to get extra tokens each month, use BTR to pay for BitRiver’s colocation service, and acquire freed from cost restore companies for mining tools that’s positioned in a BitRiver mining datacenter. 

“By launching the BTR token, we search to speed up our efforts to make cryptocurrency mining greener whereas providing buyers world wide an easier-than-ever solution to turn into a part of environment-friendly cryptocurrency mining.” 

Mining and renewable power

Cryptocurrency mining is an energy-intensive enterprise that has generated criticism for its impact on the environment. Some estimates have noticed that Bitcoin—the world’s flagship cryptocurrency—consumes as a lot power as a rustic like Argentina

And regardless of frequent claims on the contrary, the vast majority of cryptocurrency mining doesn’t depend on renewable power. Per Cambridge University, solely 39% of world cryptocurrency mining is powered by renewables. But the Siberian area of Russia the place BitRiver’s information facilities function reportedly generates about 5 gigawatts of surplus energy from renewable hydropower. 

BitRiver intends to make the most of as much as 300 megawatts of the area’s electrical energy by the top of 2021, and as much as 1,000 megawatts by the top of 2022.

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